Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.2
Segment Information
 9 Months Ended
Sep. 26, 2020
Segment Reporting [Abstract]  
Segment Information

Note 20: Segment Information

We operate within targeted markets through three reportable segments for continuing operations: biotechnology, recycling, and technology. The biotechnology segment started in September 2019 as the Company broadened its business perspectives to being a pharmaceutical company focused on finding treatments for conditions that cause severe pain and bringing to market drugs with non-addictive pain-relieving properties. The recycling segment includes all fees charged and costs incurred for collecting, recycling and installing appliances for utilities and other customers. The recycling segment also includes byproduct revenue, which is primarily generated through the recycling of appliances. The nature of products, services and customers for both segments varies significantly. Our technology segment is comprised of GeoTraq, which is in the process of developing technology to enable low cost, location-based products and services. As such, the segments are managed separately. Our Chief Executive Officer has been identified as the Chief Operating Decision Maker (“CODM”). The CODM evaluates performance and allocates resources based on sales and income from operations of each segment. Income (loss) from operations represents revenues less cost of revenues and operating expenses, including certain allocated selling, general and administrative costs. There are no intersegment sales or transfers.

 

The following tables present our segment information for the 13 and 39 weeks ended September 26, 2020 and September 28, 2019:

 

 

 

Thirteen Weeks Ended

 

 

Thirty Nine Weeks Ended

 

 

 

September 26, 2020

 

 

September 28, 2019

 

 

September 26, 2020

 

 

September 28, 2019

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

12,266

 

 

$

9,790

 

 

$

24,723

 

 

$

23,684

 

Biotechnology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Revenues

 

$

12,266

 

 

$

9,790

 

 

$

24,723

 

 

$

23,684

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

3,717

 

 

$

2,564

 

 

$

6,236

 

 

$

5,581

 

Biotechnology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Gross profit

 

$

3,717

 

 

$

2,564

 

 

$

6,236

 

 

$

5,581

 

Operating loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

1,249

 

 

$

(1,319

)

 

$

(1,526

)

 

$

(4,200

)

Biotechnology

 

 

(845

)

 

 

—

 

 

 

(1,652

)

 

 

—

 

Technology

 

 

(1,227

)

 

 

(1,302

)

 

 

(3,362

)

 

 

(3,685

)

Total Operating loss

 

$

(823

)

 

$

(2,621

)

 

$

(6,540

)

 

$

(7,885

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

124

 

 

$

139

 

 

$

295

 

 

$

238

 

Biotechnology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Technology

 

 

936

 

 

 

937

 

 

 

2,809

 

 

 

2,808

 

Total Depreciation and amortization

 

$

1,060

 

 

$

1,076

 

 

$

3,104

 

 

$

3,046

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

88

 

 

$

75

 

 

$

255

 

 

$

81

 

Biotechnology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Interest expense, net

 

$

88

 

 

$

75

 

 

$

255

 

 

$

81

 

Net loss before benefit from income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

1,193

 

 

$

(1,388

)

 

$

(879

)

 

$

(3,497

)

Biotechnology

 

 

(845

)

 

 

—

 

 

 

(1,652

)

 

 

—

 

Technology

 

 

(1,257

)

 

 

(1,302

)

 

 

(3,452

)

 

 

(3,685

)

Total Net loss before benefit from income taxes

 

$

(909

)

 

$

(2,690

)

 

$

(5,983

)

 

$

(7,182

)

 

 

 

As of

September 26,

2020

 

 

As of

December 28,

2019

 

Assets

 

 

 

 

 

 

 

 

Recycling

 

$

11,192

 

 

$

11,505

 

Biotechnology

 

 

—

 

 

 

—

 

Technology

 

 

14,685

 

 

 

17,529

 

Total Assets

 

$

25,877

 

 

$

29,034

 

 

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

 

 

 

 

Recycling

 

$

19

 

 

$

465

 

Biotechnology

 

 

—

 

 

 

—

 

Technology

 

 

14,931

 

 

 

17,240

 

Total Intangible assets

 

$

14,950

 

 

$

17,705